Discussion
Compulsory 3rd party insurance isn't far away...
http://www.stuff.co.nz/4478220a10.html
Harry's on a roll!
http://www.stuff.co.nz/4478220a10.html
Harry's on a roll!
I don't understand the negativity here 
Premiums for those of us that actually pay them are only made higher by the risk of running into uninsured drivers. Get those people paying for insurance (yes, that's more $ in insurance company coffers, but not coming from those of us already paying them) and in theory existing insured driver premiums should reduce. Or at least be less inclined to go up.
In the UK where this already applies it's a pretty simple process - insurance companies issue a certificate of insurance which needs to be presented when you renew your registration. No insurance, no registration sticker and you're in the database as being unregistered which increases the risk of being picked up on a random reg plate check. Another side-effect is that because high powered cars are waaaay more expensive for youf to insure they tend to run around in low power cars and spend their cash on just making them look fast, instead of as happens here bolting on big turbos and going out killing themselves, their mates and whoever else is in the way. OK there'll still be a number of scrotes driving around in unregistered, uninsured cars but there should be less of them and they should be less high-powered.
So I don't get it... surely this is a good thing?
Premiums for those of us that actually pay them are only made higher by the risk of running into uninsured drivers. Get those people paying for insurance (yes, that's more $ in insurance company coffers, but not coming from those of us already paying them) and in theory existing insured driver premiums should reduce. Or at least be less inclined to go up.
In the UK where this already applies it's a pretty simple process - insurance companies issue a certificate of insurance which needs to be presented when you renew your registration. No insurance, no registration sticker and you're in the database as being unregistered which increases the risk of being picked up on a random reg plate check. Another side-effect is that because high powered cars are waaaay more expensive for youf to insure they tend to run around in low power cars and spend their cash on just making them look fast, instead of as happens here bolting on big turbos and going out killing themselves, their mates and whoever else is in the way. OK there'll still be a number of scrotes driving around in unregistered, uninsured cars but there should be less of them and they should be less high-powered.
So I don't get it... surely this is a good thing?
Kiwi Carguy said:
I think it's great for a number of reasons.
Even if it ONLY achieves making it difficult for young kids to purchase high powered cars.
In TOTAL agreement there.Even if it ONLY achieves making it difficult for young kids to purchase high powered cars.
Can anyone think of a country in the world where you can get your hands on a fast car as young?
Get your restricted (piss easy), $1 deposit at instant finance and you're behind the wheel of a pre-tuned 400bhp Toyota Supra within the hour.
Kiwi Carguy said:
I think it's great for a number of reasons.
Even if it ONLY achieves making it difficult for young kids to purchase high powered cars.
sorry but I really cant see this happening.Even if it ONLY achieves making it difficult for young kids to purchase high powered cars.
just means they'll all go the National Auto Club for insurance, couple of grand and they'll insure ANYONE!
and do the boys care about a couple of grand? naa it just comes out at $10 a week or so, like all they other stuff they buy.
so back to square one, except we have more bureaucracy, and more money in the insurance company coffers.
I think the one think that WILL hurt young guys owning high powered cars is the looming credit crunch, once the mess that is the US credit market atm (ie housing collapse) arrives here, all those fringe finance companies wont be able to sustain the "$1 down" offers.
Edited by izza on Monday 14th April 05:09
izza said:
I think the one think that WILL hurt young guys owning high powered cars is the looming credit crunch, once the mess that is the US credit market atm (ie housing collapse) arrives here, all those fringe finance companies wont be able to sustain the "$1 down" offers.
Could be some bargains out there when they realise they can't meet their repayments and still owe more than the car is worth...izza said:
Kiwi Carguy said:
I think it's great for a number of reasons.
Even if it ONLY achieves making it difficult for young kids to purchase high powered cars.
sorry but I really cant see this happening.Even if it ONLY achieves making it difficult for young kids to purchase high powered cars.
just means they'll all go the National Auto Club for insurance, couple of grand and they'll insure ANYONE!
and do the boys care about a couple of grand? naa it just comes out at $10 a week or so, like all they other stuff they buy.
so back to square one, except we have more bureaucracy, and more money in the insurance company coffers.
I think the one think that WILL hurt young guys owning high powered cars is the looming credit crunch, once the mess that is the US credit market atm (ie housing collapse) arrives here, all those fringe finance companies wont be able to sustain the "$1 down" offers.
Edited by izza on Monday 14th April 05:09
**** RANT ALERT *****
Great news - then all NZ needs is extensive retraining of ALL drivers, new roading and an increased driving age to 18.
Who will pay for new roads? A drivers licence should cost $1000s in training which will more than cover it.
Extra money can come from pulling those stupid 'speed kills' adverstisments also - have they never stopped and wondered why NZ's road toll is double (per capita) that of Germany's with it's large unrestricted areas?
Only then will the road toll drop to an acceptable (if it ever is 'acceptable') limit.
Rant over - as you were
Great news - then all NZ needs is extensive retraining of ALL drivers, new roading and an increased driving age to 18.
Who will pay for new roads? A drivers licence should cost $1000s in training which will more than cover it.
Extra money can come from pulling those stupid 'speed kills' adverstisments also - have they never stopped and wondered why NZ's road toll is double (per capita) that of Germany's with it's large unrestricted areas?
Only then will the road toll drop to an acceptable (if it ever is 'acceptable') limit.
Rant over - as you were
Esprit said:
Kiwi Carguy said:
I think it's great for a number of reasons.
Even if it ONLY achieves making it difficult for young kids to purchase high powered cars.
In TOTAL agreement there.Even if it ONLY achieves making it difficult for young kids to purchase high powered cars.
Can anyone think of a country in the world where you can get your hands on a fast car as young?
Get your restricted (piss easy), $1 deposit at instant finance and you're behind the wheel of a pre-tuned 400bhp Toyota Supra within the hour.
AFAIK one of the requirements for ticking up a car is it needs to be fully insured. The uninsured ones are more likely to be cheap cars I would have thought.
Also what happens if an under 25 drives a mates insured car? The car would be insured but not for that driver. Does that mean itd be illegal for under 25 year olds to drive other peoples cars? (Dont apply to me, I dont drive other peoples cars unless Im insured and Im only under 25 for 3 weeks anyway but in general).
More restrictions is usually not a good thing and I suspect this could turn into another example of it.
Talking of the UK with compulsory insurance. Isnt that one of the reasons they always cite why everyone has exhorbitant premiums?
UK case is different Paul.... they have no ACC so if you crash into someone and they require half a million quidsworth of hospital car/rehab/compensation then your insurance covers that too. Given that human repairs are typically WAY more expensive than panel 'n' paint shops, then it's understandable why our insurance is so much cheaper than theirs. Tot up what we're levied for ACC in out Rego/Petrol/Misc levies and it'll add up similarly.
As for the kiddies ticking cars up and requiring full insurance... I don't think this is enforced... they probably need to prove insurance at the time of agreement, but I believe if they let that insurance lapse (say after 3 months) then there's no enforcement, even though they're then in breach of their finance contract. I believe that the finance companies have backup insurance in this case so they still get their money back (which then gets claimed against the original borrower) so really they don't care either way.
As for the kiddies ticking cars up and requiring full insurance... I don't think this is enforced... they probably need to prove insurance at the time of agreement, but I believe if they let that insurance lapse (say after 3 months) then there's no enforcement, even though they're then in breach of their finance contract. I believe that the finance companies have backup insurance in this case so they still get their money back (which then gets claimed against the original borrower) so really they don't care either way.
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